RE: UBC Media......IMG?20 May 2014 14:13
Well from what I can gather IMG were the 2nd largest major shareholder in UBC with around 28m shares, they also invested $7m in 7digital back in 2012.
Todays RNS from UBC Media.
"In November 2013 the Company announced its intention to create a separate listing for Audioboo whilst retaining a significant holding in it, and to reverse the remaining assets of UBC into privately-owned 7digital."
"The listing of Audioboo will become effective this morning via the re-admission to trading of Audioboom Group plc ("Audioboom") (formerly One Delta plc) following shareholder approval of Audioboom's reverse takeover of Audioboo on 19 May 2014. UBC today holds 18.7% of the share capital of Audioboom which has recently raised £3.5 million to fund the business. By reference to the closing price of an Audioboom share on 19 May 2014, UBC's shareholding in Audioboom is valued at just over £3 million. In addition UBC has warrants to subscribe for ordinary shares in Audioboom at a price of 1.5 pence per share which would take its holding to 19.7%."
http://www.lse.co.uk/share-regulatory-news.asp?shareprice=UBC&ArticleCode=e9tvx8hv&ArticleHeadline=Proposed_Acquisition_of_7digital_Group_Inc
Clear as mud.........anyone got a clue who now owns who/what?
As I understand things ONE (One Delta) is now BOOM (Audioboom) from today, but who were formally Audioboo. UBC Media are having a share consolidation and a placing and will then be called 7digital Group plc.
Wont even comment yet on the TMZ news also today (IMG own 35m of them)...........Need a lie down now before my head explodes : )